Strategic Actuarial Pricing Leader

Great Eastern; Kuala Lumpur; On-site; MYR 180,000 - 240,000; Full time

Job summary

Great Eastern in Malaysia is seeking an experienced pricing actuary to drive timely, accurate pricing strategies across products, aligned with regulatory and risk frameworks.

You will develop pricing assumptions, lead pricing exercises, validate models, and provide actuarial insights on benefits, risk factors and premiums. Collaborate with Product Development, Underwriting and Distribution to ensure competitive pricing. Mentoring juniors and ensuring governance will be part of your remit.

Qualifications

• Bachelor’s Degree in Actuarial Science, Mathematics, Statistics, or a related field.
• Good progress and passed Intermediate/ Fellowship actuarial exams in one of the actuarial associations recognized by BNM.
• Experience in life insurance/ takaful industry with basic knowledge in underwriting, claims, servicing and agency administration.
• 5-8 years of actuarial experience in life insurance/ takaful.
• Good communication skills - written and verbal.
• Knowledge in product modelling & projection.
• People management and project management skills.
• Sound actuarial principles.
• Knowledge in Company's financial & market position and experiences as well as Company's overall operational procedures.
• Knowledge in Prophet maintenance and coordination, regulations and guidelines.
• Key competencies: product knowledge, actuarial knowledge & applications; analytical thinking, creativity, problem solving and investigative abilities, passion for excellence, information seeking, communication skills, teamwork and cooperation, good inter-personal skills, good integrity and trustworthy characteristics

Responsibilities

• Develop/review best estimate pricing assumptions to provide pricing proposals.
• Lead pricing exercises for new and existing products, ensuring financial sustainability and competitiveness.
• Develop, validate, and enhance actuarial pricing models, incorporating data-driven insights and emerging trends.
• Support product development by providing actuarial insights on benefits, risk factors, and premium structures.
• Ensure compliance with internal product pricing policies, processes and regulatory guidelines.
• Perform actuarial research and competitor analysis to maintain an understanding of industry trends.
• Play a supporting role in actuarial and pricing related projects and company-wide initiatives.
• Involve in the development, maintenance, and enhancement of actuarial pricing models, ensuring technical accuracy.
• Perform experience study and analyze trends to refine pricing assumptions, and adjust pricing models accordingly.
• Work closely with Product Development, Underwriting and Distribution to ensure competitive pricing while meeting profitability targets.
• Steer pricing related projects end-to-end and collaborate with stakeholders to ensure project delivery within timelines.
• Support marketing and business development in building and maintaining effective relationships with stakeholders.
• Work closely with Retakaful Operators in reviewing and negotiating treaty terms of new products to assess risk strategies and optimize treaty terms.
• Ensure a robust pricing governance framework, including validation, monitoring, and regular updates of pricing models to comply with regulatory, actuarial and internal standards.
• Review pricing methodology and models that meet internal and regulatory requirements.
• Prepare and present actuarial justifications for regulatory submissions, including product filings and repricing exercises.
• Supervise, mentor, and develop junior actuarial staff, fostering a high-performance culture.
• Promote continuous learning and technical innovation within the actuarial pricing function.

Skills

Actuarial analysis

Communication skills

People management

Project management

Analytical thinking

Problem solving

Teamwork

Interpersonal skills

Integrity

Education

Bachelor’s Degree in Actuarial Science, Mathematics, Statistics, or a related field

Intermediate/Fellowship actuarial exams

Tools

Prophet maintenance

Job description

Great Eastern in Malaysia is seeking an experienced pricing actuary to drive timely, accurate pricing strategies across products, aligned with regulatory and risk frameworks.

You will develop pricing assumptions, lead pricing exercises, validate models, and provide actuarial insights on benefits, risk factors and premiums. Collaborate with Product Development, Underwriting and Distribution to ensure competitive pricing. Mentoring juniors and ensuring governance will be part of your remit.